Joe Biden is Forcing American Tax Payers To Pay For $39 Billion in student loan debt for 804,000 Borrowers – July 19, 2023,
Vote buying is still alive and well, another one of the many problems with modern democracy, and this, in case you’re wondering, is why a lot of people are against fiat money and central banking, because basically if you’re one of the 804,000 Borrowers who voted for Joe Biden, you just got your money worth.
Massive regulations and lobbying efforts in modern democracies tend to benefit a tiny fraction at the expense of everyone else. People tend to forget why Socrates hated Democracy; well Joe Biden just gave you a reminder.
Now, we should also be talking about American taxpayers being forced to subsidize the Rusia Ukraine war via these ESG regulations, which, as everyone knows, benefits OPEC+ Russia.
But again, this is the result of fiat money and central banking, which BENEFIT the Federal governments of the world. Although you’ll notice a lot of “experts” will make it appears as if central banks benefit the PRIVATE sector and the regular citizen, nothing can be further from the truth, laws exist, and when laws are broken, people are SUPPOSED to go to jail.
As an example, Hunter Biden recently got caught evading all sorts of taxes, but Because his daddy is the president, he got a slap on the wrist. If we remember, Martha Stuart and Wesley Snipes ended up in Federal Prison for evading taxes.
Now as you’re reading this, don’t imagine that I’m BASHING democracy; what I’m saying is that Democracy needs to evolve to this type of blatant corruption. At the very least, I’m hoping people are taking notes of what’s happening for the sake of the new republic, which is inevitable at this point.
Get The Federal Government out of the Student Loan Business
There’s actually a way to prevent this from happening again, and that’s to get the federal government out of the student loan business. In my opinion, students should be allowed to DEFAULT on these debts, but the problem is that these student loan debts are on the federal government balance sheets, and nobody in their right mind would want to buy them.
So although what J did is immoral and unsustainable, the truth is that he’s provided an opportunity to get the Federal Government out of the student loan business. Now I know what most people are thinking, if all of these students start defaulting on student loan debts, the market for student loans will shrink?
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That’s actually not true. What is true is that the cost for many of these tuitions will come back down to earth, and the people selling these University dreams will have to start offering a lot more value if they want to attract more students into debt.
These private lenders would also have to be more prudent, but there will still be a market for their debt offerings; it’s just that market forces would finally exist; currently, the only thing keeping university prices down are politicians and activists.
Universities and colleges are ENCOURAGED to raise their prices, because, after all, the loan will be forgiven, and make no mistake about it, what Joe Biden just did was GUARANTEE that every Democrat in the future will promise to get rid of student loans, and if you read some of these Left Wing news organizations, they’re justifying the student loan forgiveness with any narrative they can imagine.
So it’s safe to say that, moving forward if you want to be the Democrat nominee and you want to attract young voters, “DEBT FORGIVENESS FOR ALL” will be one of many cradle-to-grave welfare slogans they will employ.
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Interesting times ahead!